Markets
Crypto: Asian and African startups overtake the US in terms of market share!
3:00 PM ▪ 3 min read ▪ by Ariela R.
In 2024, crypto startups in Asia and Africa have reached unprecedented levels. They even surpass those in the United States and Canada. This trend is largely due to the US regulatory uncertainties as well as the growing adoption of cryptocurrencies in emerging markets.
The rise of crypto startups in Asia and Africa: the numbers don’t lie!
Data compiled by accelerator Alliance shows that the share of crypto startups in Asia and Africa has increased significantly this year.
- Asia now accounts for 26.8% of new startups.
- Africa reached 5.2%.
This growth is fueled by the increased adoption of digital assets on these continents, benefiting from the rise of emerging markets.
“Digital asset applications are seeing increasing adoption in emerging markets.”
Qiao Wang and “Chloexyg” from the DAO Alliance
Europe, leader of new crypto startups
According to report Alliance, Europe surpasses the United States and Canada as the top country for new crypto startups. Its share represents 31.4% in the first half of 2024This European domination is explained by policies more favorable to innovation and blockchain.
On the other hand, the uncertainty related to US Regulations (especially the SEC’s approach) has led many founders to look elsewhere for opportunities.
What about crypto startups in the US?
In the United States, crypto startups are facing increasing challenges due to strict regulations imposed by the secondThis approach has prompted companies like Phoenix Wallet and Wasabi Wallet to exit the US market.
That’s not all! The number of founders of large tech companies has also declined by more than 15 percentage points since 2021. This trend reflects a loss of confidence in the innovation climate in the United States.
The data reveals one important fact: the dynamics of crypto startups are changing rapidly. For crypto investors, understanding these trends is essential to seizing opportunities in emerging markets.
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Ariela R.
My name is Ariela and I am 31 years old. I have been working in the field of web writing for 7 years now. I have only discovered trading and cryptocurrency a few years ago. But it is a world that interests me a lot. And the topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be considered investment advice. Do your own research before making any investment decision.